Charity registration number 270733
THE UNIVERSITY OF HAIFA UK
ANNUAL REPORT AND FINANCIAL STATEMEiYTS
FOR THE YEAR ENDED 5 APRIL2024

THE UNIVERSITY OF HAIFA UK
LEGAL AIYD ADMINISTIL4TIVE INFORMATION
Trustees
Sir Prof. Walter Bodmer
Mr Peter Kadas
Sir Prof. Simon Baron-coheii
Dr Erfrat Sopher
Mr RusscII Jacobs
Mr Richard Hatter
Charity number
270733
Auditor
Rachel Chim FCCA
UHY Ha¢k¢r Youiig
Quadrant House
4 Thomas More Square
London
EIWIYW
Bankers
Metro Bank
Oiie Southatnpton Row
London
WCIB5HA

THE UNIVERSITY OF HAIFA UK
CONTENTS
Page
Trustees, report
Independent auditor's report
Stat¢m¢nl of financial a¢tiviii¢s
9-10
Balance shcct
Statement of cash flows
12
Notes lo the financial statements

THE UNIVERSITY OF HAIFA UK
TRUSTEES, REPORT
FOR THE YEAR ENDED S APRIL 2024
The trustees preseni iheir annual report and financial 51atement5 for the year ended 5 April 2024.
The aecounls have been prepared in accordance with the accounting policies set out iii note I to the
ac¢ount% aiid ¢omply ￿'1th the charity's Ti'ust Deed, the charities A¢[ 2011 and 'Accounting and Reporting
by Chariiies.. Statement of Recommended Pi'actice applicable to charities preparing their accounis in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
102)"
Charity Registration Number: 270733
Registered Office: Uiiiversity of Haifa UK, PO Box 75919, London, NW3 9YP
Objectives and activities
The object of The University ot Haifa UK is to raise funds for the advancetnent of education in association
with and relating to the charitable educational aclivities of The University of Haifa. The tunds raised are to
proiiiote and assist building developincnl ot classrooms, lecture rooms, laboratories. library. halls of
students residcnLe- to proinotc and assist the ¢ndowment and provision of scholarships, biirsaries. prizes,
ex¢hanges, travel fellowship, research. explorations, or other educational awards. for th¢ establishment and
promotion of r¢search ¢entr¢s and in£titut¢s; to provid¢ fund8 and join in the admini£tr&tive proviqions for
the establishment of felloi¥ships, professorial chairs and lectureships and generally promote or assist in the
training of academic leaching staff; to assist in or promote research into the diverse charitable fields of
learning and assist in the publication of educational material.
The truslees have paid due regard to guidance issued by the Charity Cotntnission in deciding what activities
tlie charity should undcrtake.
Grant making policy
Donations and transfer of funds to the Universit of Haifa
All earmarked tunds raised in the UK for specific objects and projects at the University are transferred in
full to the University normally within less than one Inonlh frotn receipt by the Charitv. Sundry non-
car]narkcd donations arc carinarkcd b), the charity according lo priorities sct by ihc Charity and the
UniTr¢rsity, and transferred to the University as w¢ll. The administrative costs are covered by the University
and working Capital is transferred from th¢ University lo the Charity on a quarterly basis.
Public benefit
The trustees have complied with section 17(5) of the 2011 Charities Act, having due regard for the Charity
Cominission's guidance on public benetit when reviewing ihe trust's aims and objectives, when setting the
grant making policy and in tnaking awards.
Trustees, Insiirance
The trustees hav¢ de¢id¢d to r¢n¢w the Trustees Indemnily Insurance as part of the Charit)'s risk
management strategy. Insurance cover is in force up to a limit of Indemnity of £500,000 for any one claim.

THE UNIVERSITY OF HAIFA UK
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
Aehievements and performance
Tlie second full year under the Executive Director saw a further increase in activity and income. The war
with Hamas obviously made a significant impact to the philanthropic landscape of charities linked to Israel
and the Jewish cotnmunity.
The war rccalibrated many prospective donors. giving slrategics, with several explainin¥ they would
instead now give to causes more directly supporting Israel's war effort, while others recognised the
imwrtanl role the Universils, will pla), in the so¢ial healing of Ihe Counlry and pledged their support lo
causes related to peaceful coexistence.
The campaign lo support the University's student reservists wilh ps)'chological support and bursaries led to
a couple ot large gifts.
New rclatlOT15hips establish¢d in the prcvious vcar, and the cultivation event of that year, bcgan to yicld
new suppo[1, iniliiding gifts from very prc)minent philanthropists and lapsed donors ivho had not given for
many years.
Highlights include a significant pledge from a donor for support of research into a rare genetic disease, a
large gift to the Department of Mathematics. applj'ing for a £1 OM medical research award, and the soft
launch of the University's School ot Medicine, which will tnark a very significant tnilestone in the
University's hislory.
With the University's Presideiil Professor Ron Robin s second term endiiig in October 2024, preparations
ar¢ in place for tlie Charity's Truslees lo work ¢los¢ly with his su¢cessor.
The charity remains on solid financial grounds. The IT infrastructure completed last year is now aiding
efficient operations.
Financial revieiv
Incoming resources of the charity for the year amounted to £3,557,576 (2023 - £3,665,642).
Total resources expended for the year increased to £3,581,455 (2023 £3,710,651) which includes
charitable donations paid to the University of Haifa of £3,430.360 (2023 - £3.536,787).
Of the charity's reserv¢s the unrestricted fiinds have a balance of £l)8,464 {2023 - £119,344) and can be
us¢d in ac¢ordan¢e with th¢ ¢harilable objec(iv¢s al the discretioii of the Trustees.
Rese￿e$ Policy
Reserve funds
The ]x)licy of The University of Haifa UK is to retain in the Charity's bank in London a sum equivalent to
I tk l ? months, adtnii)istrative costs.
Struetiire* governanee and mxnxgement
The Charity has been esiabliqhed aq a Charitable Trust under a Trust Deed dated 31 st December 1975 as
amended on l October 2017. As per the Trust Deed and the Trustees, Resoluiion dated 20 September 2018,
the number of trustees shall be no less than three and no Inore than l O at anv given time. Induction and
training ot. trustees are at the discretion and judgeinent of the trustees themselves on changing needs, and
under no set policy.

THE UNIVERSITY OF HAIFA UK
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
The trustees who served during the year and up to the date of signature of the financial statetnents were..
Sir Prof. Walter Bodmer
Mr Peter Kadas
Sir Prof. Simon Baroii-Coh¢n
Dr Erfrai Sopher
Mr Russell Jacobs
Mr Richard Hatter
Statemellt of trustees, resp0115ibilitie5
The trustees are respoiisible for preparing the Trustees, Report and the financial statements in accordance
with applicable la￿. and Uiiitcd Kingdom Accounting Standards (United Kiiigdom Gcncrally Acccpted
A¢¢ouiiting Pra¢ti¢e).
The lai¥ applicable to charities in England and Wales requires the tnistees to prepare financial statements
for each financial year which give a true and fair view of the state of affairs of the charity and of the
incotning resources and application ot resources ot the charity for that year.
Iii preparing these financial statements, the trustees are required to..
select suitable ac¢ouniiiig poli¢i¢s aiid theii apply Ih¢m ¢onsisl¢ntly;
observe the methods and principles in the Charities SORP-
make judgements and estimates that are reasonable and prudent,.
state wh¢iher applicable accounting standards havc been followcd. subjcct to any iiiaterial departures
disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping su￿1clent accounting records that disclose with reasonable
accuracy at any titne the tinancial position of the charity and enable thetn to ensure that Ilie financial
statcm¢nts comply with the Charities Act 2011. Ihc Charity (ALcounts and Reports} R¢¥ulations 2008 and
the provisions of the trust deed. Tliey are also responsible for safeguarding the assets of the vharily and
h¢n¢¢ for taking r¢asonabl¢ sleps for th¢ pr¢v¢ntion and d¢t¢¢tion of fraud and other irregularities.
Diselosure of informiition to auditor
Each of the trustees has confinned that there is no information of which ihev are aware which is relevant to
the audit, but of which the auditor is unaware. They have further confirmed that they have taken
appropriale steps lo identify such relevant information and io eslablish thal the auditor is aware of such
information.
The trust¢cs' rcport was approved by th¢ Board of Trustees and signed on its bchalf by:

THE UNIVERSITY OF HAIFA UK
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
Mr Russell Jacobs
Cowcbair of the Board of Trllstees
Date.. 0210112025

UHY
UHY H*¢k•rYoum¥ LLP
Quadrant House
Thomas Moro Square
London ElWIYW
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE UNIVERSITY OF HAIFA UK
Opinion
We have audited th¢ financial statements of The University of Haifa UK (the 'charity') for the year ¢nded 5
April 2024 i¥hich comprise the staiement of financial activities, the balance sheet, the statement of cash flows
and the notes to the financial statements, inclliding a summary of significant accounting policies. The financial
reporting frame￿'0rk that has been applied in iheir preparation is applicable law and Uniled Kingdom
Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Siandard
applicable in lhe UK andRepNblic ofIiEland (United Kingdom Generally Accepted Accountin¥ Practice}.
In our opinion, the financial statcincnt5'.
give a true and fair view of the state of the charity's affairs as at 5 April 2024 and of its incoming
resources and application of resources. for the year tl)en ended-
have been properly prepared in ae¢ordan¢e with United Kingdom Generally Accepted Accounting
Practic¢; and
have been prepared in accordance with the requireinents of the Charities Act 2011.
Basi5 for opinioll
We conducted our audit in accordance iiith International Standards on Auditing (UK) {ISAs (UK)) and
applicable laTr¥. Our responsibilities under those standards are further described in the Audilor s respoK6ibilities
for the audil of thefinanL ial stalenienls section of our report. We are independent of the charity in accordance
'iih the cthical rcquircmenls Ilial are relevant to our audit of the fiiiaiicial statcinenls in the UK, includiiig the
FRC'S Ethical Standard, and I￿.¢ have fulfilled our othcr cthical r¢5pon5ibilitiC5 in accordancc with these
requirements. We beliei'e that the audit evideiice we l)ave obtaiiied is sulTieient and appropriate lo provide a
basis for our opinion.
Conclusions relating to going eoncern
In auditing the financial statetnents. we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statetnents is appropriate.
Based on the work we have perfornied, we have not identified any Inaterial uncertainties relating to events or
¢ondilions that, individually or ¢olle¢tively. Inay casi signifi¢ant doubt on the ¢harily's ability to continue as a
going concern for a period of at least twelve months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibililies of the trustees with respect to going concern are described in the
relevant sectioiis of this report.

UHY
UHY H*¢k•rYoum¥ LLP
Quadrant House
Thomas Moro Square
London ElWIYW
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF THE UNIVERSITY OF HAIFA UK
Other inforniation
The trustees are responsible for th¢ oiher inforination. Th¢ oth¢r information compris¢s the information
included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion
on the financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit of the financial statetnents, our re5pon5ibility is lo read the other information and,
iii doing so, Lonsider whether the other infoniiation is materially inLonsist¢nt with th¢ fillanLial stalctllents or
our kiioivledge obtained in the audit or otherwise appears to be nialerially misstated. If we identify such
material inconsiqtenci¢s or apparent mat¢rial misstatements, we are required to det¢rmin¢ wheih¢r th¢re is a
material misstatement in the financial statements or a material misstatement of the other information. If, based
on the work ive have performed, we conclude that there is a material misstatement of this other inforn]ation,
we are required to report that fact.
We have nothin¥ to report in this regard.
Matters on iTr'hich we are required to report by exception
Wc havc nothing to rcport in rcspcct of the following Inattcrs in relation to which thc Charitics Act 2011
require us lo report lo )'ou if: in our opinion..
the information given in the financial statements is inconsistent in any material respect with the trustees,
re￿rt. or
sulficient accounting records have not been kept; or
the financial statements are not in agreement ivith the accounting records. or
wc havc not reccivcd all thc infortllation and cxplanations we require for our audit.
Responsibilities oftrustees
As explained more fully in the statement of trustees, responsibilities, the trustees are responsible for the
preparation of the tinancial statements and for being satistied that they give a true and fair viem". and for such
internal control as the trustees delermine is necessary lo enable the preparatioii of financial Slatements that are
fre¢ from material Inisstat¢m¢nt. whether due to fraud or crror. In preparing th¢ finaiicial stateiiicnls, thc
trustees are respoi)sible for assessing the eharit) s ability lo coiitinue as a going concern, disclosing, as
appli¢able, mariers relared lo going concern and using Ili¢ going ¢onc¢rn basis of ac¢ounling unless the
trustees either intend to cease operations, or have no realistic alternative but to do so.
Allditor's responsibilities for the audit of the fin3ineial statements
We liave been appointed as auditor uiider section 144 of tlie Cliarilies Act 2011 and report in accordance with
the Aet and relevant regulations made or having effect thereunder.
Our objeciives are to obtain reasonable assurance about whether the financial statemenrs as a whole are free
from Inaierial Inisstalement, whether due lo fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an aiidit conducted in
accordance w'ith JSAS (UK) will alwa)'s detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate. tliey could reasonably be
expected to influence the econotnic decisions of users taken on the basis of these financial statemenls.

UHY
UHY H*¢k•rYoum¥ LLP
Quadrant House
Thomas Moro Square
London ElWIYW
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF THE UNIVERSITY OF HAIFA UK
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibililies, outlined above, to detect tllateTial misstateinents in respecl of
irrcgularities. including fraud. The extcnl to which our procedure5 are capable of dctccling irre¥ularitie5,
including fraud, is detailcd bclow.
Our approach lo identifving and ass¢s%ing the risk% of material mis8tat¢m¢nl in r¢spe¢t of irr¢gularili¢s,
including frllud and non-compliance with laivs and regulations, was as follows=
the engagement partner ensured that the engagement team collectively had the appropriate
competei)ce, capabilities and skills to identify or recognise non-compliance with applicable laws
and regulations;
Ive identified the laws and regulations applicable to the Charity through discussions with
managcinent, and froill our commercial knowlcd¥e aiid cxpcricnce of thc scclor; and
we focused ort speiific laws and regulalions ￿.hi¢1) m.e considered may liave a direct material
effect oli (he fiiiaii¢ial statements or (he op¢ralions of the ¢harity, in¢luding th¢ Charities A¢t 2011,
data protection, anti-bribery, employment, environmental and health and safety legislation.
We assessed the susceptibility of the Charity's financial statements to material misstatement, including
obtaining an understanding of hoi¥ fraud might occur. by Inaking enquiries of manageinent as to where they
considered there was susceptibility to fraud, their knowledge of'actual, suspected and alleged fraud.
To address the risk ot traud through management bias and override of controls, we..
pcrfortlled anal)'tical proccdures to identify any unusual or unexpected relationship5. and
tested journal ¢ntrics to idciilify unusual Iransaclions.
In response to the risk of irregularities and non-cotnpliancc with la￿.8 and regulations, we designed procedures
which included, but M'ere not limited 10:
agr¢¢ing financial statement dis¢losiir¢s to iind¢rlying supporting documentation;
reading the minutes of meetings of those Charged with governance; and
enquiring of management as to actual and potential litigation and claims.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. http.'Ilwww.frc.org.uklauditorsresponsibilities. This description forms part of
our audilor's report.
Use of our report
This report is made solely to the Charity"s trustees, as a body. in accordance with the Charities Act 201 l. Our
audit work has been undertaken so that we might state to the Charity's trustees those matters lie are reqiiired
to state to tl)em in an auditor s report and for no other purpose. To the tullest extent pern)itted by laii: we do
not accept or assume responsibility to anyone other thali the Charity s trustees as a body. for OUT audit w'ork,
for this rcport, or for thc opinions we hav¢ fortncd.

UHY
UHY Haek•rYoun9 LLP
Qu•drant P+ouso
4Thorn3* Mnrg Squar•
Lgndon EIWIYW
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE UNIVERSITY OF HAIFA UK
UHY Hacker Young
Chartered Accountants
Statutory Auditor
UHY Hacker Young is eligible for appointment as auditor of the charity by virtue of its eligibility for
appoinlm¢nt as auditor of a ¢ompany und¢r se¢lion 1212 of the Companies A¢t 2006.

THE UNIVERSITY OF HAIFA UK
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED S APRIL 2024
Cllrrent finaneial year
Unrestricted Restricted
funds
funds
2024
2024
Total
To¢>)I
2024
2023
Notes
Income and endowments from:
Donations and legacies
unding re¢eiv¢d from th¢ University of Haifa
3,427.361 3.427,361 3,500,826
130,216
164,818
130,216
TotAI income
130,216 3,427,361 3,557,577 3,66i,fv14
enditurc on:
Raising funds
151,095
151,095
173,864
Charitable activities
3,430,360 3,430,360 3,536,787
Total resources expended
151,095 3,430,360 3,581,455 3,710,651
Net expenditure for the yearl
Net movement in funds
(20,879)
(2,999) (23,878) (45,007)
Fund balances at 6 April 2023
119,343
2,999
122,342
167,350
Fund balanees at 5 April 2024
98,464
98,464
122,343
The statemeiii of financial activities includes all gains aiid losses recognised in the year.
The slalement of finan¢ial a¢tivities iii¢ludes all gains aiid losses re¢ognised in the year. All iii¢ome and
expenditure deriv¢ from continuing activiiies.

THE UNIVERSITY OF HAIFA UK
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED S APRIL 2024
Prior financial year
Unrestricted Restricted
funds
funds
2023
2023
To¢>)I
2023
P4otes
Income and endowments from:
Donations and legacies
unding re¢eiv¢d from th¢ University of Haifa
19.014 3.481,812 3,500,826
164,818
164,818
TotAI income
183,832 3,481,812 3,66i,fv14
enditurc on:
Raising funds
173,8fv1
173,864
Charitable activities
3,536,787 3,536,787
Total resources expended
173,864 3,536,787 3,710,651
Net expenditure for the yearl
Net movement in funds
9.968
(54,975) (45,007)
Fund balances at 6 April 2022
109.376
57.974
167,350
Fund balances at 5 April 2023
119.344
2.999
122,343
10-

THE UNIVERSITY OF HAIFA UK
BALANCE SHEET
AS AT S APRIL2024
2024
2023
Note5
Current assets
Debtors
Cash at bank and in hand
io
912
111,449
750
135,591
112,361
136,341
Creditors: amounts falling due within
one year
li
(13,897)
(13.998)
Net current as5e¢s
98,464
122,343
Net assets exeluding pension liability
98,464
122,343
The funds of the charity
Restricted income funds
Unrestricted funds
13
2,999
119,344
98,464
98,464
122,343
The financial statements were approved by the trustees on 2 January 2025 and approved on its behalf by..
Mr Rus5cII Jacobs
Trustee

THE UNIVERSITY OF HAIFA UK
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED S APRIL 2024
2024
2023
Notes
Cash flows from operating activities
Cash (absorbed by)/generaled from
operations
17
{24,142)
12,255
Net cash used in investing activities
Net cash used in financing activities
r+let {decrease)linerea5e in cash #nd cash
equivalents
(24,142)
12,255
Cash and ¢ash equivalents at beginniiig of year
135,591
12J,336
Cash and Cash equivalents at end of year
111,449
135,591
12-

THE UNIVERSITY OF HAIFA UK
NOTES TO THE FIIYAIYCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2024
Aceounting polieies
Charity information
The University of Haifa UK is a Charitable Trust established under a Tnjsl Deed dated 31 December
1975 as amended oli l O¢tober 2017.
1.1 Ae¢ounting convention
The finan¢ial statements have be¢n prepared in a¢cordanc¢ M'.ith tlie charity's Irust deed, th¢ Chariti¢s A¢t
2011 and "Accounting and Rewrting by Charities= Statement of Recommended Practice applicable to
charities preparing their accounts in aecordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland {FRS 102)" The cl)arity is a Public Benefit Enlity as defined by FRS 102.
Tl)e financial stalements are prepared in sterling. which is the functional currency of the charity.
Monetary amounts in these fiiiaiicial statetnents are rounded to the nearest £.
The financial statements have been prepared under the historical cost convcntion. The principal
accountirtg policies adc)pted are sel out below.
1.2 Going concern
The University of Haifa will continue to support the charity to meet its liabilities as the). fall due for the
foreseeable future. At the titnc of approving tlic financial 51atcm¢nts, the trusteC5 tlicrcforc have a
reasoiiable expectation that the charity has adcquale resources to continue in operational existeiice for
the foreseeable future. Thus th¢ trusiees Conrinue lo adopt the going con¢ern basis of a¢counting in
preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in fi]rtheranee of their charitable
objectives.
Restricted funds are subject lo specific conditions by donors or grantors as to ho￿ they may be used. The
purposes and uses ot'the restricted funds are set out in ihe notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any perfomiance conditions have
been met, the ainounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been
notified of the donation: unless performance conditions require deferral of the amount. Income tax
recoverable in relation to donalions received under Gift Aid or deeds of covenant is recognised at the
time of the donation.
Legacics rcco¥niscd on rcccipt or otherwi5c if the charity has been notified of an itnpcnding
distribution, the amoiint is known, and receipt is expceted. If tlie amount is not known, the lega¢v is
treared as a contingent asset.
Ass¢ts for dislribiilion are re¢ognis¢d only when distributed. Ass¢ls given for use by the ¢hariry are
recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet
purposes.
13

THE UNIVERSITY OF HAIFA UK
NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
Accounting policies
(Continued)
1.5 Expenditure
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation
committing the Charity to the expenditure. All expenditure is accoiinted for an accruals basis and has
been classified under headings that aggregate all costs related to the category.
Governance and support costs cotnprise all eosls involving the public accountability of the Charity and
its compliance with regulation and good practice, including all maiiagement and administrative costs.
All governance and siipport eosis are incurred in connection wilh raising fiinds and have been allocated
a¢¢ordingly.
1.6 Cash and eash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-tern] liquid
investmei)ts with original maturities of three months or less, and bank overdrafts. Bank overdrafts are
shown Trvithin borroivings in current liabilities.
1.7 Finaneial instruments
The charii!, haq elected to apply the provisions of Se¢tion I I 'Basic Finan¢i&l Instriim¢nts' and Se¢tion
12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when ihe charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements,
when there is a legally enfor¢eable right lo ser off th¢ reeognised amounts and there is an inl¢nrion lo
s¢ttl¢ on a n¢t basis or to realise the ass¢t and s¢ttl¢ the liability simultan¢ously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction pric¢ including traiisa¢tion costs and ar¢ subsequently ¢arri¢d ar amorlis¢d cost using the
effectiv¢ interest method unl¢ss the arrangement constiiut¢s a financing transaction: M.'her¢ the
transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basicfinancial liabilities
Basi¢ financial liabilities, including ¢redilors and bank loans are initialls, re¢ogiiised ar transa¢tioii pri¢e
unless the arrangement consiitutes a financing transaction, Ivhere the debt instrument is measured at the
preseni value of the future payments discounted at a market rate of interest. Financial liabilities
classified as payable within one year are not arllortised.
Debt instruments arc Subsequently carTied at amortised cost, using the effectiv¢ interest rate Inethod.
Trade ¢redirors are obligations lo pa), for goods or services (hal have beeii acquired in tlie ordinary
cours¢ of operations from suppli¢rs. Amoiints paswable ar¢ ¢lassified as ¢urrent liabilities if payinent is
due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are
recognised initially at transaction price and subsequently measured at amortised cost using the effective
interest Inethod.
14-

THE UNIVERSITY OF HAIFA UK
NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
Accounting policies
(Continued)
DereeognitioH offindncidl li(4h41itie.s
Financial liabilities are derecognised when ihe charity's contractual obligations expire or are discharged
or cancelled.
1.8 Employee benefits
The cost of any unused holiday entitletnent is recognised in the period in which the employee's services
are received.
Termiiiation ben¢fits are recognised iinmcdiately as an expcnse wlien the charity is demonstrably
¢ommilled to lerminale the employinent of &n emploj'ee or lo provide termination benefits.
1.9 Retirement benefits
Paytllents to defiiied contribution retirement benefit 5cheme5 are charged as an expense as they fall due.
Don3itions and legacies
Unrestrieted Restrieted
funds
funds
2V24
2V24
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Donations and gifts
3,427,361 3,427,361
19,014 3,481,812 3,500.826
Donations and gifts
Donations
Donalcd ¥ifts and
scrvices
3,377,483 3,377,483
3,467,785 3,467,785
19,014
19,014
14,027
Gift aid
49,878
49,878
14,027
3,427,361 3,427,361
19,014 3,481,812 3,500,8?6
Funding received from tbe University of Haifa
2024
2023
Fundii)g received from ihe University of Haifa
130,216
164,818
15

THE UNIVERSITY OF HAIFA UK
NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
R31ising funds
Unrestricted Unrestricted
funds
fui)ds
2024
2023
Advertising
Support and governance costs (see note 6)
19,014
154,850
151,095
151,095
173,864
Expenditure on eharitable activities
Restricted Restricted
funds
fllnds
2024
2023
Direct costs
Payments made by donors directlv to the University of Haifa
Payments from the Charity lo the Universiiy of Haifa
2.612,548
817,812
805,987
2,730,800
3,430,360
3,536,787
Analysis by fund
Restrictcd tund5
3,430,360
3.536,787
16-

THE UNIVERSITY OF HAIFA UK
NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
Support eosts
Support Governance
Costs
Costs
2024
Support Goveriiance
costs
costs
2023
Staff costs
Offi¢¢ ¢xpens¢s
Bank charges & interest
Travel
Sundry expenses
Computer expenses
Insuraiicc
Loss on foreign
exchange
Consuliaiic), fees
Audit fees
Ac¢ouiilan¢y
121,269
2.290
501
10,122
411
3,540
1,346
121.269
2,290
501
10,122
411
3,540
1,346
121,253
352
121,253
352
252
9,330
516
7,562
1,146
9,330
516
7,562
1,146
103
103
1,386
9.000
1,127
99
99
4,046
6,000
4,294
1,386
9,000
1,127
4,046
6,000
4,294
139,582
11,513
151,095
140,510
14.340
154,850
Anal)'s¢d between
Fundraising
139,582
11,513
151.095
140,510
14,340
154,850
All ¥ov¢rnancc and support cost5 incurred in connection with raising funds and have becn allocated
accordingly.
The remuneration to auditors constituted audit fees £9,000 (2023.. £6,000),
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from
Ihe charity during the year.
17

THE UNIVERSITY OF HAIFA UK
NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
Employees
Employment costs
2024
2023
Wages and salaries
So¢ial s¢¢urity ¢osts
Other pension costs
91,667
5,139
24,463
91,185
5,605
24,463
121.269
121,253
Ollc cmploycc (2023.. 1 cmployce) had ctnolutllcnts in excess of £60,000. The average numbcr of full
liinc ¢quivalent staff in tlie )'ear was 2 (2023.. 2).
Taxation
Th¢ Charity is exempt from tax on income and gains falling ￿'1th1n section 505 of the Taxes Act 1988 or
s¢¢tion 256 of the Taxation of Chargeable Gains A¢t 1992 to the ¢xt¢n( that Ih¢s¢ are applied to ils
charitable objects.
10 Debtors
2024
2023
Amounts falling due within one year:
Prepayments and a¢crued in¢om¢
912
750
11 Creditors: amounts falling due within one year
2024
2023
Othcr taxation and social security
Other creditors
Accruals and d¢f¢rred incotne
2,578
2,090
9,229
2,679
2,090
9,229
13,897
13,998
12 Retirement benefit sebemes
2024
2023
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes
24,463
24,463
18-

THE UNIVERSITY OF HAIFA UK
NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
12 Retirement benefit schemes
(Continued)
Thc charity operates a defiiicd contribution pcnsion schcme for all qualifying cmplojecs. The assets of
the scheme are held separately from those of the Charity iii an independently administered fund.
J3 Restrieted funds
The restricted funds of. Ihe charity comprise the unexpended balances of. donations and grants held on
Irust subject lo specific conditions by donors as to how they tnay be used.
At 6 April
2023
Incoming
resources
Resources
expende
Trnnsfers
Gains and
losses
At 5April
2024
Restricted
funds
2,999
3,427,361
{3,430:360)
2,999
3,427,361
{3,430:360)
Previous year:
Al 6 April
2022
Ineomin%
resources
Resources
expende
Tr#nsfers
Gains and
losses
At5April
2023
Restricted
fiinds
57,974
3,481,812
(3,536,787)
14 Ullrestrieted fullds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which
are noi subje¢t lo sp¢cific ¢ondilions by donors and grantors as lo ho￿.. Ili¢y may be used. These include
designated fiinds which have been set aside out of unrestricted funds by the trustees for specific
purposes.
At 6April
2023
Incoming
resources
Resources
expended
At 5 April
2024
General funds
119,343
130,216
{151,095)
98,464
Previous year:
At 6April
2022
Incoming
resources
Resources
expended
At 5April
2023
General funds
109.376
183,832
(173,864)
119,344
19-

THE UNIVERSITY OF HAIFA UK
NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
IS Allal)'sis of net assets between funds
Unrestricted Restricted
funds
funds
2024
2024
Total
2024
At 5 April 2024:
Current assetsl{liabilities)
98.464
98,464
98.464
98,464
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
At S April 2023:
Current assets/(liabilities)
119,344
2,999
122,343
119,344
2,999
122,343
20-

THE UNIVERSITY OF HAIFA UK
NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
16 Related party transactions
During the year the charity received funding of £130,216 (2023.. £164,818) from the University of Haifa
(see noie 3) and transferred doiialioiis of £817,812 (2023: £2,730,800) to ihe University (see iiole 5). The
charity and the University of Haifa have trus(ees in cominon.
During the year, the trustees made donations to the charity totalling £2,659,166 (2023.. £2,854,094)-
17 Cash generated from operations
2024
2023
Deficit for the year
(23,878)
(45,007)
Movements in working capital..
(Increase)/decrease iii debtors
(Decrease)lincrease in creditors
(162)
(102)
53,444
3,818
Cash (absorbed by)Igener3ited from operations
(24,142)
12,255
J8 Analysis of changes in net funds
The charity had no material debt during the year.
21

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